Located at the intersection of Rosedale Road and Pleasant Street, the three-building lab campus offered an attractive in-place cash flow with a roster of six tenants. Eight Boston Architecture Firms Make to the List of Top 50 Market Basket Supermarket Coming to Maynard Crossing, The Top 10 Commercial Real Estate Developers of Boston in 2020, CBRE New England Brokers Three Leases, Totaling 75,695 SF in Chelmsford. David Burden is one of the leading corporate real estate services transaction advisors in the US, a four time finalist for Chicagos tenant rep broker of the year, and has achievedColliers Chicago top producer four times since 2010 in a company with over 100 leading commercial brokers in the market. Jumbo Capital and Apollo Group have obtained $57.7 million in financing from Cambridge Savings Bank to fund a planned conversion of a Boston-area office property into a life sciences-oriented manufacturing facility. Life science developers are paying two to three times as much per square foot for development sites as apartment developers in the urban core, according to research by Colliers International. Twitter Putting Majority of NYC Offices Up for Sublease. La informacin de las cookies se almacena en tu navegador y realiza funciones tales como reconocerte cuando vuelves a nuestra web o ayudar a nuestro equipo a comprender qu secciones de la web encuentras ms interesantes y tiles. He serves as the Director of Life Sciences team and is well versed in all aspects of designing and constructing laboratory and GMP manufacturing facilities on behalf of his clients. I haveexperience with Advanced Therapeutic Medicinal Products, Parenteral Fill Finish, Solid Oral Dosage, Biologics, and Medical Device manufacturing facilities, as well as a solid background in Laboratory Research and Development/Pilot scale facilities andcontrolled environments. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. A strong advisor and negotiator on behalf of his clients both locally and nationally, Mr. Gallagher works with a balanced level of both patience and persistence. With an experienced property management team on-hand, Broder will self-manage the existing properties while pursuing the best development path for the campus with neighborhood stakeholders. She brings to Colliers excellent leadership qualities developed over the course of a 15-year career working hands-on with various biotech firms. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. New deliveries in 2022 will open the door for more absorption. About 9.4 million square feet of life science space is under construction in Greater Boston, with another 52.3 million proposed, according to research from brokerage Colliers International. These factors are driving tremendous growth in both established life science hubs and numerous other markets. 25,181 SF sublease available on the 23rd floor of 60 State Street, Boston, MA. Available Immediately Full Floor Opportunity | 23rd Floor Term through September 2030 Fully Furni Barry will call on her deep experience and knowledge of the sector and the region to help industry-leading life science companies find and develop space that meets unique business and operational requirements in the ultra-competitive Boston market. We are part of its history and are deeply dedicated to the community and to serving you. Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. Revolutionary. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. So, part of it is the slowdown in the IPO market. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. The life science market had an IPO once every three days in 2020, setting a new record for IPO launches that easily surpassed the previous high-water mark of 73 in 2018. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. He is an executivevice president and shareholder in the firm. Jack Blumenfeld is an Associate specializing in Class A Office/Flex/Life Science tenant representation and investments inthe UTC San Diego office of Colliers International. Oncorus was represented by JLLs Peter Bekerian in the transaction. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. Boston Has the Largest Potential Pipeline of Life Science Space in the Vertex Pharmaceuticals to occupy Related Beals planned development of 22 Drydock Avenue, Boylston Properties Launches Property Management Arm, Cresa Publishes Data-Driven Insights & Predictions for Greater Boston Real Estate Markets, R.W. There, I was exposed to many different sides of the day-to-day operations, giving me an invaluable education in and appreciation for what drives business decisions. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Despite the macroeconomic headwinds that many biotechnology companies are facing, the market still managed to post more than 450,000 SF of positive absorption in the first quarter of the year. Perhaps searching can help. My primaryfocus is the Class Asubmarkets: UTC, Downtown CBD, Carmel Valley, Sorrento Mesa, Sorrento Valley, Del Mar, Torrey Pines, Solana Beach, Carlsbad, Kearny Mesa, andMission Valley. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. And growth is spreading beyond the most established markets. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Colliers International estimates that life-sciences projects under development or in planning will expand the sector in greater Boston to more than 60 million SF by the end of this decade.. She is an Emmanuel College graduate with a concentration in biology. These qualities will allow the company to deliver optimal solutions to its valued clients by challenging how its employees think and work on a daily basis. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. But there has definitely been a race to expand to satisfy any demand in the market. Read more about the U.S. Life Science Report: First Quarter 2022 report. They have invested significant capital into what was already first-class space with the goal of making it a life science destination for multiple GMP users all under one roof.. MS: The last few years have seen a barbell effect. Scribd is the world's largest social reading and publishing site. Boston and San Francisco, the top two markets in the country, are, unsurprisingly, leading the U.S. in construction today, with 5.1 million square feet and 2.1 million square feet underway, respectively. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. All Rights Reserved. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. Our reputation for delivering results spans more than 135 years. Our acquisition and redesign of Innovation Park supports IQHQs vision to provide premier office, lab and manufacturing facilities for companies such as Oncorus, which will support the increasing demand for medical innovation and life science space in Greater Boston, said Doug Cuff, Vice President at IQHQ. With space availability below 2%, the space crunch has yet to abate. Following a 132-year period operating as Meredith & Grew, the company embraced a new chapter when Colliers International purchased an 80% interest in the company, allowing the remaining 20% to be locally owned and managed. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. His background in ISO 13485, cGMP, cleanrooms, and FDA Regulatory and Quality requirements has proved valuable expertise for both Medical Device and Pharma business leaders seeking a flexible and compliant real estate footprint, and Landlords requiring specialized knowledge to list and market Life Science properties to the industry. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. OSSD specializes in local, regional and national office and industrialtenants around the Globe. Advances in technology and science put drug discovery on a level never before seen. "Residential had that . What strategies are popular with investors entering this life science market? Cambridge, MA In my role as Executive Managing Director and Market Leader of Colliers Boston, I am responsible for the strategic direction and performance of Colliers Internationals Boston office, comprising more than 130 real estate professionals who provide clients with best-in-class service for landlord representation, tenant advisory, corporate solutions, capital markets, development and consulting, real estate management, valuation and appraisal, and marketing and research. Here are key takeaways on the : With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. In a world of constant news and a sea of information, Colliers International | Boston's team of market experts develops and hones the insight, actionable analysis and market intelligence you need to navigate the constantly changing dynamics of the Greater Boston market. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Watertown is emerging as an important community tied to the life science industry. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Our reputation for delivering results spans more than 135 years. Jake Klein The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. 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